9.1 Draft Revenue and financing policy

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "9.1 Draft Revenue and financing policy"

Transcription

1 1. Policy purpose and overview The purpose of the Revenue and financing policy is to provide predictability and certainty about sources and levels of funding available to the council. It explains the rationale for, and the process of selecting various tools to fund the operating and capital expenditures of the council. 2. Policy background Funding principles To assist with the identification of the appropriate funding methods, the council has used a set of guiding principles that incorporate the matters set out in the legislation. These are summarised in table below. Principle Paying for benefits received or costs imposed Transparency and accountability Market neutrality Financial prudence and sustainability Optimal capital usage Strategic alignment Overall social, economic, environmental and cultural impacts Community outcomes in the Auckland Plan Affordability Minimise the effects of change Efficiency and effectiveness Practicality of policy Legal compliance Table Rationale for its application The council will apply this principle to select appropriate funding methods when considering benefit distribution and cost causation and the period in or over which benefits and costs are expected to occur. The allocation of costs to those who benefit from a council service or those who impose costs to the council is considered economically efficient and equitable This principle is applied when considering the costs and benefits of separate funding. Transparency of funding enables the users of services to assess whether they get value for money. Accountability makes the council more efficient in providing these services. From the perspective of the service users, transparency and accountability also enables them to make more informed decisions in using council services This principle is relevant when the council is competing with the private sector in producing or delivering services. The council can be placed in an advantageous position vis a vis the private sector because of its ability to fund such services from rates, either fully or partially. This can lead to market distortions and economic inefficiencies. It can also discourage private enterprise. To avoid this, in tandem with other principles such as affordability, the council will apply commercial best practice when providing such services This principle is relevant in determining appropriate funding mixes. It is recognised that additional revenue may be required to support debt repayment and manage treasury ratios This principle relates to the effectiveness of funding tools in achieving efficiencies. The council s limited financial resources should be used in such a way to maximise the benefits provided to the community, while minimising the burden on ratepayers. Among other things, this principle influences the council s decisions on the best mix of funding (between rates income, other revenue sources, borrowings and asset sales) to pay for its for its assets and activities The Auckland Plan sets out a vision for the city over the next 30 years. The Revenue and financing policy should have regard to its impact on the broader strategies and priorities as set out in the council s vision and the Auckland Plan The infrastructure strategy outlines how the council intends to manage its infrastructure assets. The Revenue and Financing policy will show how investment in infrastructure is funded. Decisions on how the council s revenue requirements will be met (by ratepayers and other groups) should take into account the impact of such decisions on the current and future social, economic, environmental and cultural well-being of the community Decisions on how the council s revenue requirements will be met (by ratepayers and other groups) should take into account the impact of such decisions on the community outcomes in the Auckland Plan The council needs to consider the impact of funding methods on people s ability to pay as this can have implications for community well-being The integration and harmonisation of the policies of the former councils may lead to major changes in the incidence or rates and user charges for services. Funding and financial policies should seek to minimise or manage the impact of these changes The council s financial policies should have regard to the costs of carrying them out, and how effective they will be in achieving their objectives The council s funding policies must be achievable and unconstrained by practical issues that will prevent compliance The LGA 2002 and related legislation include a number of legal requirements for the development

2 of the Revenue and financing policy. All aspects of the policy will comply with legislation There are some inherent conflicts between these guiding principles. In practice, establishing the council s specific revenue and financing policies involves balancing competing guiding principles. For example, the principle of paying for benefits received may call for a high degree of user pays for an activity, but this must be balanced against the principle of affordability. 3. Policy details Expenditure to be funded Legislation requires the council to make adequate provision in its long-term plan to meet expenditure needs identified. Generally, this will mean that all expenditure is funded. Exceptions include funding of depreciation expenditure where it is financially prudent not to do so. In determining the level of non-funded depreciation, the council will have regard to: whether at the end of its useful life, the replacement of an asset will be funded by way of a grant or subsidy from a third party whether the council has elected not to replace an asset at the end of its useful life whether a third party has a contractual obligation to maintain the service potential of an asset throughout all or part of its useful life or to replace the asset at the end of its useful life whether fully funding depreciation in the short-term will result in an unreasonable burden on ratepayers, presenting conflict between funding principles, for example between affordability and financial prudence and sustainability. In such circumstances, the council will remain prudent and ensure it promotes both the current and future interests of the community by forecasting to reach a position over time where it fully funds depreciation (apart from the exceptions above). The table below sets out the minimum level of depreciation funding the council will incorporate when calculating its rates requirement. Table Proportion of depreciation expenditure to be funded Year 2015/ / / / / / / / / /25 Funded 67% 70% 74% 78% 82% 85% 89% 93% 96% 100% Not funded 33% 30% 26% 22% 18% 15% 11% 7% 4% 0% Sources of funding: Operating expenditure The sources of funding applied under this policy are limited to those set out under section 103 (2) of the LGA A brief evaluation of appropriateness of each funding tool for funding different activities is presented in tables and below. Funding source Fees and charges Grants and subsidies Development or financial contributions Targeted rates Table Funding sources for operating expenditure Rationale Fees and charges can be applied where the users of a service can be identified and charged according to their use of the service (and those that do not pay are denied access to the service). This is based on the paying for benefits received principle. Fees are also appropriate where an individual s action or inaction creates the need for an activity (cost causation). For example, the cost of obtaining a building consent is met by the building owner Grants and subsidies are generally only appropriate for funding the operating costs of the particular activity that the grant or subsidy is intended to pay for. For example, NZTA (government) transport subsidies can only be used to fund transport projects Development contributions or financial contributions can only be used to fund capital expenditures related to growth and financing costs incurred due to timing between growth-related capital expenditure being incurred and the related development contribution being received Targeted rates are appropriate for funding operating activities where the activity mainly benefits a specific group of ratepayers or where the action or inaction of that group contributes to the need for the activity. These include, for example where:

3 General rates CCO profits, and net rental and interest from investments Borrowing Trusts, bequests and other reserve funds Other funding sources Surpluses from previous financial years an individual or a group of ratepayers voluntarily chooses to adopt the rate, such as for business improvement districts or the Retrofit Your Home scheme the benefit of the activity falls on an identifiable subset of ratepayers the rate is for a specific service such as for refuse collection General rates are appropriate for funding activities where it is not practicable or costeffective to identify the individual or group of beneficiaries (or causers of costs) of the service and charge them for the benefits received or costs imposed (eg, regional parks and open spaces). It is also appropriate for s to partially fund activities where the provision of a private good also generates wider social benefits or where the application of fees and charges either causes affordability issues or compromises the wider objectives of the activity. This is consistent with the guiding principle of affordability CCO profits and net returns from investments will be used to offset the s funding requirement of other council activities, reducing the burden on all ratepayers Borrowing will not generally be used to fund operating expenses. The council may choose to borrow for an operating expense where it is providing a grant to an external community organisation that is building an asset such as a community facility or in other cases where operating expenditure provides enduring economic benefits. Borrowing may also be used to fund the interest expense accrued on borrowing during the period of construction of an asset; and to fund the cost of discovered liabilities such as the council s share of weathertightness claims. In these cases borrowing and repaying the debt over time promotes intergenerational equity by spreading the responsibility for funding across the generations who will benefit Certain operating expenditure may be funded from restricted or special funds that are subject to special conditions of use, whether under statute or accepted as binding by the council. Transfers from reserves may only be made when the specified conditions for use of the funds are met The use of any other funding sources should be assessed with regard to the guiding principles. Any miscellaneous revenue not linked to a specific activity should be used to fund activities that would otherwise be funded through the A surplus may be available to be carried forward if the actual surplus/(deficit) is improved compared to the forecast surplus/(deficit). Generally, only those factors that are cash in nature will be available for use in determining the level of surplus to be carried forward. The amount of any surplus carried forward will be accounted for as an operating deficit in the year the benefit is passed to ratepayers The funding mix for activities shown in Table below reflects the application of the above principles and rationale to the operating expenditure of individual activities. Rating policy The council will use s to fund activities which have a public good 1 element, e.g. civil defence, or where it wishes to subsidise the provision of services because of the wider social benefits they provide e.g. libraries. Valuation basis The will be set on the basis of capital value. Capital value better reflects the level of benefit a property is likely to receive from services rather than land value or annual value. Application of a uniform annual general charge To ensure that the rates burden isn t disproportionately borne by higher value properties the council has decided to set a uniform annual general charge (UAGC). Every ratepayer will therefore make a minimum contribution to meeting the council s costs. The charge will apply to every separately used or inhabited part of a rating unit e.g. shop in a mall or granny flat. This ensures equal treatment between these properties and main street shops or apartments on individual titles. The increase in the requirement will be split to maintain the proportion of the UAGC at 13.4 per cent of the s requirement. Rates differentials 1 Public good refers to a product or service where individuals cannot be effectively excluded from use and where use by one individual does not reduce availability to others.

4 It is the council s view that some land uses receive more benefit from, or place more demand on, council services and/or may have a differing ability to pay rates. The differentials will be determined based on land use and location. The council will apply rates differentially (the base level for rating is the residential sector) to: businesses in the urban area urban and rural businesses in the former Franklin District Council area business and residential properties in rural areas farm/lifestyle properties properties with no direct or indirect road access and properties on uninhabited islands. The council has decided that the appropriate basis for differential for business is to raise 25.8 per cent of the s take, which is substantially lower than the current level. Business rates will move to that level in equal steps by 2025/2026 to manage the affordability impact of the shift in the rates burden to the residential sector. Targeted rates The council mainly uses targeted rates where there is a clearly identifiable group benefiting from a specific council activity. Targeted rates will apply to properties that receive certain services, or which are located in specified areas. The council does not have a lump sum contribution policy and will not invite lump sum contributions for any targeted rate. The council intends to set targeted rates to fund the following activities: Table 9.1.4: to be funded by targeted rates Targeted rate Solid waste targeted rates set in each former council area City centre targeted rate Local targeted rates as proposed by local boards Business improvement district targeted rates Loan repayment targeted rates Waitakere rural sewerage targeted rate Transport targeted rate to be funded Solid waste refuse, inorganic and recycling services as appropriate in that former council area Investment in projects to enhance the central city environs Local activities in the local board s area Investments to enhance the environs in the area of the business association as agreed with the business association To repay financial assistance provided by the council to ratepayers for specific purposes To pay for the provision of inspection and pump out services for on-site waste management systems One of the options the council is considering as part of delivering on the Auckland Plan Transport Network is a transport targeted rate. Annual adjustments to fees and charges The council will amend its regulatory fees and charges annually to: reflect increases in costs as measured by the council rate of inflation and/or maintain the cost recovery levels underlying the basis for setting the fee levels. The change to fee levels will be made on a practical basis recognising that the percentage change applied to individual fees may not precisely equal the council rate of inflation. This also means smaller fees may increase by more material amounts in one year and remain constant for a period before being adjusted again.

5 Sources of funding: Capital expenditure The council has determined the funding sources for capital expenditure for each of its activities after considering the funding principles set out above (Table 9.1.1). Table Funding sources for capital expenditure Funding source Rationale General rate Appropriate funding source where it is not practicable or cost-effective to identify the individual or group of beneficiaries (or causers of costs) of the capital expenditure Targeted rates Fees and charges Interest and dividends from investments Borrowing Proceeds from asset sales Development or financial contributions Grants, subsidies, and donations Trusts, bequests and other reserve funds Other sources Appropriate to fund capital expenditure projects that benefit a specific group of ratepayers Appropriate funding source where users of a service can be identified and charged according to their service. Examples includee water charges and Infrastructure Growth Charges from Watercare Limited Interest and dividends from investments may be used where appropriate and consistent with the council s funding principles to fund capital expenditure projects and to reduce the reliance on ratepayer funding. Borrowing is used to spread the funding requirement for capital expenditure across multiple years. Given assets deliver benefits throughout their useful lives it is appropriate that the funding is spread across the useful life Funds received from the sale of surplus assets will generally be used to repay borrowings. On a case-by-case basis these surpluses may be used to fund investment in another asset of higher strategic priority than the asset sold Appropriate to fund capital expenditure in response to development (growth) that generates a demand for additional reserves, network or community infrastructure (such as stormwater systems). Contributions are set through the council s Contributions Policy Appropriate to fund specific capital expenditure projects as per terms of the grant, subsidy or donation. An example of this is NZTA subsidies to partially fund transport projects Certain capital expenditure may be funded from restricted or special funds that are subject to special conditions of use, whether under statute or accepted as binding by the council. Transfers from reserves may only be made when the specified conditions for use of the funds are met Other revenue sources may be used where appropriate and consistent with the council s funding principles to fund capital expenditure projects and to reduce the reliance on ratepayer funding. An example of this is the use of commercial returns from property holdings to fund capital spend on those property assets. Note: Auckland Council does not intend to use Lump Sum Contributions to fund capital expenditure

6 Table 9.1.6: Application of funding principles to the funding of operating and capital expenditure Group of Activities Consideration of funding principles Funding policy Activities Theme: Auckland Development Waterfront Development Waterfront Development Property Development Property Development This involves both commercial operations that deliver private benefits and public initiatives that benefit the community as a whole Lessees, tenants and purchasers derive the full benefit Regional Planning Regional Planning The community as a whole benefit from this activity The city centre redevelopment programme directly benefits businesses in the city centre area through enhancing the quality of the environment in the city centre for workers and visitors Local Planning and development Local Planning and Development - Locally Driven Initiatives Local Planning and Development - Asset Based The community as a whole benefit from this activity The community as a whole benefit from this activity Business improvement districts (BIDs) directly benefit from council expenditure on local economic development made at their direction Costs on commercial operations are funded from user charges and other non-rates revenue Costs on public initiatives are primarily funded from the general rate Costs are fully funded from lease revenue, rents and the sale of development properties Borrowings are used to address cash-flow timing Costs are primarily funded from the Costs associated with the city centre redevelopment programme are funded from a combination of the city centre targeted rate and s Costs are fully funded from the Costs are fully funded from the Grants provided to each BID for spending in the BID area are funded from the respective BID targeted rate Fees charges and other revenue grants, donations, and sponsorships) will be applied to costs

7 Group of Activities Consideration of funding principles Funding policy Activities Theme: Economic and Cultural Development Economic Growth and Visitor Economy Economic Growth and Visitor Economy The related industries benefit from increased visitor numbers The community as a whole benefit from growth in the economy and employment Regional Facilities Regional Facilities Users of the facilities derive a direct benefit The community as a whole benefit through a more diverse and vibrant lifestyle and an increased sense of pride and identity created by the events hosted in the facilities An enhancement to the overall economy and employment resulting from increased visitor numbers Theme: Environmental Management and Regulation Regulation Regulation The need for the council involvement is mainly caused by licence or consent applicants or holders whose activities, if unregulated, could cause nuisance to the public or pose a threat to the safety or health of the community In some cases it is difficult to identify and charge the parties who cause the costs (e.g. owners of unregistered dogs) In some cases charging the full cost may discourage compliance Certain related services (e.g. provision of property information) deliver private benefit to users Solid Waste and Environmental Solid Waste and Environmental Service users derive a direct benefit The waste minimisation goals set by the council support recycling and resource recovery initiatives The community as a whole benefit from the public services such as street cleaning, waste minimisation education and hazardous waste collection and disposal In some cases it is difficult to identify and charge the parties who cause the costs (e.g. illegal dumping) Costs are primarily funded from the Subsidies from government and other sources are utilised where available User charges are applied where benefits are private (event tickets) The majority of the costs are funded from user charges such as venue hire The balance of the costs are funded from the The majority of the costs are funded from user charges Certain charges are set at a level below cost to encourage compliance, with the balance funded from s Where costs cannot be easily attributed to individual parties, they are funded from the The funding policy outlined below will be implemented over time in conjunction with the implementation of the council s Waste Management and Minimisation Plan (WMMP) Costs for the collection and disposal of refuse will be funded from user charges. However, until full implementation of the WMMP a combination of targeted rates and charges will be used Costs for recycling and resource recovery initiatives are funded from targeted rates Subsidies from government and other sources are utilised where available Where the benefit is public or it is difficult to identify the exacerbators, the costs will be funded from the

8 Group of Activities Local Environmental Management Stormwater Management Activities Consideration of funding principles Funding policy Local Environment - Locally Driven Initiatives Local Environment - Asset Based Stormwater Management Theme: Governance and Support Regional Governance Local Governance Organisational Support Regional Governance Local Support Organisational Support These are public goods that benefit the community as a whole These are public goods that benefit the community as a whole These are public goods that benefit the community as a whole The provision of civil defence is a public good that benefits the community as a whole The remainder of the activity contributes to the council s provision of external services Investment Investment All ratepayers as a whole bear the risk of the investments Theme: Parks, Community and Lifestyle Costs are fully funded from the Fees charges and other revenue grants, donations, and sponsorships) will be applied to costs Costs are fully funded from the Costs are fully funded from the Costs associated with civil defence are funded from the The remainder of the costs are allocated to the council s external services Any profit realised is used to reduce the requirement Any loss would be funded from the or other revenue Borrowings are used to address cash-flow timing Regional Parks, Sport & Recreation Local Parks, Sport & Recreation Regional Parks, Sport and Recreation Local Parks, Sports and Recreation - Locally Driven Initiatives Local Parks, Sports and Recreation - Asset Based Service users derive a direct benefit The community as a whole benefit from access to high quality open space In most cases it is impractical to directly charge users In some cases the service is private and a charge can be implemented (e.g. use of park space or facilities for private functions) Costs are primarily funded from the User charges may apply where the service is private and a charge can be implemented Subsidies from government and other sources, and any revenue grants, donations and sponsorships) are utilised where

9 Group of Activities Regional Community Local Community Theme: Transport Roads and Footpaths Public Transport & Travel Demand Management Activities Consideration of funding principles Funding policy Regional Community Local Community - Locally Driven Initiatives Local Community - Asset Based Roads and Footpaths Public Transport and Travel Demand Management Service users derive a direct benefit The wider public benefit from a more vibrant and friendly community and a safer community environment The target recipients of the services may have affordability issues Road and footpath users derive a direct benefit In most cases it is impractical to directly charge users The vast majority of the public are users Service users derive a direct benefit Public transport provides benefit for the wider community by reducing demand from private transportation for roading infrastructure available Fees charges and other revenue grants, donations, and sponsorships) will be applied to costs Costs are primarily funded from the User charges may apply where the service is private and a charge will not compromise the council s social objectives Subsidies from government and other sources, and any revenue grants, donations and sponsorships) are utilised where available Fees charges and other revenue grants, donations, and sponsorships) will be applied to costs Costs are funded predominantly from the Government grants are utilised where available Costs are funded from a combination of the, user charges and government grants

10 Group of Activities Parking & Enforcement Activities Consideration of funding principles Funding policy Parking and Enforcement Theme: Water Supply and Wastewater Parking customers derive the full benefit Individuals failing to comply with restrictions create the need for the council involvement Costs are fully funded from user charges and fines Borrowings are used to address cash-flow timing Water Supply Water Supply Water and wastewater customers Wastewater Wastewater derive the full benefit Disposal Costs are fully funded from user charges different generations of water users

Revenue and Financing Policy

Revenue and Financing Policy Revenue and Financing Policy The Revenue and Financing Policy explains how the Council funds each activity it is involved in and why. Council provides a number of distinct activities and services to its

More information

The Revenue and Financing Policy states Council s policies on the funding of its operating and capital expenditure and the sources of those funds.

The Revenue and Financing Policy states Council s policies on the funding of its operating and capital expenditure and the sources of those funds. REVENUE AND FINANCING POLICY Introduction The Revenue and Financing Policy states Council s policies on the funding of its operating and capital expenditure and the sources of those funds. The Local Government

More information

STATEMENT OF PROPOSAL - REVENUE AND FINANCING POLICY

STATEMENT OF PROPOSAL - REVENUE AND FINANCING POLICY STATEMENT OF PROPOSAL - REVENUE AND FINANCING POLICY Summary The Revenue and Financing Policy states Council s policies on funding operating expenses and capital expenditure. The possible sources for funding

More information

REVENUE AND FINANCING POLICY

REVENUE AND FINANCING POLICY REVENUE AND FINANCING POLICY 1. Introduction The Revenue and Financing Policy (Policy) contains Council's policies with respect to the funding of operating expenditure and capital expenditure from various

More information

Revenue and Financing Policy 401

Revenue and Financing Policy 401 Revenue and Financing Policy 401 Contents 1. Purpose 2 2. Funding Principles 2 3. Operating Costs 3 4. Operating Costs Funding Sources 3 5. Capital Cost Funding Sources 6 6. Additional Information 7 Waimate

More information

Revenue and Financing Policy

Revenue and Financing Policy Revenue and Financing Policy Objective Provide the funding mechanisms to ensure the equitable distribution of costs to those who benefit, and provide for the financial sustainability of the activities

More information

Revenue and Financing Policy

Revenue and Financing Policy Revenue and Financing Policy Purpose To present Bay of Plenty Regional Council s (Council) policies for financing its planned groups of activities including proposed funding sources. Under Sections 102

More information

REVENUE AND FINANCING POLICY

REVENUE AND FINANCING POLICY REVENUE AND FINANCING POLICY The Revenue and Financing Policy must be prepared under Section 102 of the Local Government Act 2002. It must be included as part of a Long-Term Council Community Plan and

More information

Defence Land has the same meaning as in Section 22 of the Local Government Rating Act 2002 (LGRA).

Defence Land has the same meaning as in Section 22 of the Local Government Rating Act 2002 (LGRA). Council Policy Policy Title: Revenue and Financing Policy Responsibility: Group Manager Corporate Services First Adopted: 2006 Review Date: June 2015 Review Frequency: Three Yearly, in conjunction with

More information

Revenue and Financing Policy

Revenue and Financing Policy Revenue and Financing Policy Background Section 102(4)(a) of the Local Government Act 2002 states that a local authority must adopt a revenue and financing policy. The revenue and financing policy must

More information

Draft Revenue and Financing Policy

Draft Revenue and Financing Policy Draft Revenue and Financing Policy Draft Revenue and Financing Policy The purpose of the Council s Revenue and Financing Policy is to provide predictability and certainty about and levels of for all its

More information

REVENUE AND FINANCING POLICY

REVENUE AND FINANCING POLICY OVERVIEW The Revenue and Financing Policy is a document which sets out how Council plans to fund all of its operating and capital expenditure, including at an activity level, over the life of the Long

More information

Draft Revenue and Financing Policy

Draft Revenue and Financing Policy Draft Revenue and Financing Policy Introduction The Local Government Act 2002 (LGA) requires every local authority to adopt a Revenue and Financing Policy and incorporate it into the LTP. The Revenue and

More information

Revenue and Financing Policy

Revenue and Financing Policy Revenue and Financing Policy Adopted Council 29 June 2012 See following page for policy. Revenue and Financing Policy Section 102(4) (a) of the Government Act 2002 requires each Council to adopt a Revenue

More information

Draft Revenue and Financing Policy Statement of Proposal Consultation 1 April 1 May 2015

Draft Revenue and Financing Policy Statement of Proposal Consultation 1 April 1 May 2015 Draft Revenue and Financing Policy Statement of Proposal Consultation 1 April 1 May 2015 Version: 11 March 2015 1 Background We are required under the Local Government Act 2002 ( LGA 2002 ) to adopt a

More information

REVENUE AND FINANCING POLICY

REVENUE AND FINANCING POLICY First adopted: 2004 Revision dates/version: Version 5 Next review date: November 2017 Engagement required: The Council will develop a proposal, make this available to the public, allow written submissions

More information

Revenue and Financing Policy

Revenue and Financing Policy Revenue and Financing Policy 1. Introduction and Purpose The policy details Council s approach to funding its operating and capital expenditure. It determines who pays for Council activities and on what

More information

Revenue and Financing Policy

Revenue and Financing Policy Introduction The Revenue and Financing Policy (RFP) outlines the Council s policies on funding sources to be used to fund the operational and capital expenditure of Council s activities and the rationale

More information

DRAFT REVENUE & FINANCING POLICY

DRAFT REVENUE & FINANCING POLICY DRAFT REVENUE & FINANCING POLICY RELATED CONSULTATION: YOUR COMMUNITY YOUR COUNCIL YOUR FUTURE 2015/25 Revenue and Financing Policy Purpose The Revenue and Financing Policy outlines the funding mechanisms

More information

Revenue and Financing Policy

Revenue and Financing Policy Revenue and Financing Policy Introduction The Revenue and Financing Policy sets out the ways in which the Council intends to pay for each activity it is involved in, and why. The Council is required to

More information

REVENUE AND FINANCING POLICY

REVENUE AND FINANCING POLICY REVENUE FINANCING POLICY BACKGROUND The Revenue and Financing Policy describes who pay s for the Council s activities and how these will be funded. The Local Government Act 2002 (the Act) sets out the

More information

Whangarei District Council Policy

Whangarei District Council Policy Whangarei District Council Policy Revenue and Financing Policy Policy 0060 Table of contents Background... 4 Review process... 4 Funding of operating expenses... 6 Funding source for activities... 7 Definitions...

More information

June 2004. Revenue and Financing Policy

June 2004. Revenue and Financing Policy June 2004 Revenue and Financing Policy CONTENTS Page 1 INTRODUCTION... 3 2 LEGAL REQUIREMENTS...5 2.1 Financial Management... 5 2.2 Funding and Financial Policies... 5 2.3 Revenue and Financing Policy

More information

Revenue and financing policy March 2015

Revenue and financing policy March 2015 Revenue and financing policy March 2015 Introduction This policy has been prepared in accordance with the Local Government Act 2002. It identifies the funding sources and mechanisms that are to be used

More information

SECTION 7: FUNDING & FINANCIAL POLICIES

SECTION 7: FUNDING & FINANCIAL POLICIES SECTION 7: FUNDING & FINANCIAL POLICIES REVENUE & FINANCING POLICY Introduction This policy outlines the choices we have made to determine the appropriate funding of operational and capital expenditure

More information

Revenue and Financing Policy

Revenue and Financing Policy Revenue and Financing Policy The purpose of the Council s Revenue and Financing Policy is to provide predictability and certainty about sources and levels of funding for all its activities. The Policy

More information

Revenue and Financing Policy

Revenue and Financing Policy Attachment 8 Revenue and Financing Policy Council approved the updated Revenue and Financing Policy for inclusion in the Long Term Plan 2015-25 on 18 December 2014. Further modelling was conducted at Council

More information

LONG TERM PLAN. Revenue and Financing Policy

LONG TERM PLAN. Revenue and Financing Policy LONG TERM PLAN Revenue Financing Policy 1 2 What is the Revenue Financing Policy? The Revenue Financing Policy sets out how the Council funds each of its activities explains the reasons for each. The policy

More information

/17 REVENUE GENERAL POLICY AND 2016/17 DEBT GENERAL POLICY. Darryl Crees, General Manager Corporate Services

/17 REVENUE GENERAL POLICY AND 2016/17 DEBT GENERAL POLICY. Darryl Crees, General Manager Corporate Services 22 of 96 3.02. 2016/17 REVENUE GENERAL POLICY AND 2016/17 DEBT GENERAL POLICY GENERAL MANAGER DEPARTMENT Darryl Crees, General Manager Corporate Services Corporate Services RECOMMENDATION That Council

More information

Revenue and Financing Policy

Revenue and Financing Policy Revenue and Financing Policy 1. Introduction Section 102(1) of the Local Government Act 2002 requires the adoption of policies that outline how operating and capital expenditure for each activity will

More information

Napier City Council REVENUE AND FINANCING POLICY

Napier City Council REVENUE AND FINANCING POLICY Napier City Council REVENUE AND FINANCING POLICY CONTENTS FUNDING OF OPERATING EXPENSES 1 FUNDING OF CAPITAL EXPENSES 3 OPERATING EXPENDITURE - SIGNIFICANT SOURCES OF ACTIVITY FUNDING 3 CAPITAL EXPENDITURE

More information

Significant Forecasting Assumptions

Significant Forecasting Assumptions Significant Forecasting Assumptions Budget and Forecasting Assumptions and Risk Assessment Schedule 10 of the Local Government Act 2002 requires that the Council identifies the significant forecasting

More information

2.0 LEGAL REQUIREMENTS...

2.0 LEGAL REQUIREMENTS... REVENUE AND FINANCING POLICY 2015 Table of Contents 1.0 INTRODUCTION... 3 1.1 Background... 3 1.2 Policy Intent... 3 2.0 LEGAL REQUIREMENTS... 3 2.1 Local Government Act 2002... 3 2.2 Section 103 :...

More information

Long Term Financial Plan 2014 2023 Adopted December 2013

Long Term Financial Plan 2014 2023 Adopted December 2013 Long Term Financial Plan 2014 2023 Adopted December 2013 District Council of Mallala CONTENTS 1 Introduction 1 2 Planning Framework 2 3 Assumptions 7 4 Summary & Financial Statements 10 Estimated Comprehensive

More information

Proposed Revenue and Financing Policy 2015 And New Rates Remissions Policies Consultation Document. Have your say by 17 April 2015

Proposed Revenue and Financing Policy 2015 And New Rates Remissions Policies Consultation Document. Have your say by 17 April 2015 Proposed Revenue and Financing Policy 2015 And New Rates Remissions Policies Consultation Document Have your say by 17 April 2015 What is Council Proposing? The Revenue and Financing Policy sets out how

More information

REVENUE AND FINANCING POLICY: Our 10-year plan. Wellington City Council s Draft Long-term Plan 2015 25

REVENUE AND FINANCING POLICY: Our 10-year plan. Wellington City Council s Draft Long-term Plan 2015 25 REVENUE AND FINANCING POLICY: Our 10-year plan Wellington City Council s Draft Long-term Plan 2015 25 2 Draft Revenue and Financing Policy Table of Contents Page 1. Policy statement on the funding of operating

More information

LONG TERM FINANCIAL PLAN (INTERIM) 2012/13 to 2022/23

LONG TERM FINANCIAL PLAN (INTERIM) 2012/13 to 2022/23 LONG TERM FINANCIAL PLAN (INTERIM) 2012/13 to 2022/23 INTRODUCTION Long term financial planning is a key element of the Integrated Planning and Reporting Framework. It is the mechanism that enables local

More information

REVENUE AND FINANCING POLICY

REVENUE AND FINANCING POLICY REVENUE AND FINANCING POLICY In this document we use the words public or private to reflect who benefits from the services Council provides. When the word public is used it means the community at large

More information

15. REVENUE AND FINANCING POLICY Tikanga Pūtea Whakawhiwhi me te Pūtea Tuku

15. REVENUE AND FINANCING POLICY Tikanga Pūtea Whakawhiwhi me te Pūtea Tuku 15. REVENUE AND FINANCING POLICY Tikanga Pūtea Whakawhiwhi me te Pūtea Tuku Responsibility Deputy Chief Executive First adopted 10 July 2003 (265/03) Historic revision dates 31 January 2006 (026/06 028/06),

More information

FULL COST PRICING A QUICK REFERENCE GUIDE FOR ELECTED OFFICIALS AND STAFF

FULL COST PRICING A QUICK REFERENCE GUIDE FOR ELECTED OFFICIALS AND STAFF FULL COST PRICING A QUICK REFERENCE GUIDE FOR ELECTED OFFICIALS AND STAFF This booklet is a quick reference guide to help you to: understand what full cost pricing is understand the importance of full

More information

Financial Strategy 2016 2026

Financial Strategy 2016 2026 Financial Strategy 2016 2026 Table of Contents 1. Executive Summary and Overview... 4 1.1 Executive Summary... 4 1.1.1 The Financial Strategy and Long-Term Financial Forecast... 4 1.1.2 The Financial Strategy

More information

Long Term Financial Plan

Long Term Financial Plan Gladstone Regional Council Long Term Financial Plan Revision No. 6 02/2016 1 Our Charter We are Gladstone Regional Council. Our Vision Our vision is to be the best local government in Queensland. Our Purpose

More information

Appendix 1: Amendment to Revenue & Financing Policy in the Long Term Plan 2012/22 in respect of Transportation

Appendix 1: Amendment to Revenue & Financing Policy in the Long Term Plan 2012/22 in respect of Transportation Appendix 1: Amendment to Revenue & Financing Policy in the Long Term Plan 2012/22 in respect of Transportation Introduction The Council has amended its Revenue and Financing Policy to allow it to introduce

More information

Revenue and Financing Policy. Revenue and Financing Policy

Revenue and Financing Policy. Revenue and Financing Policy Revenue and Financing Policy 1. The Revenue and Financing Policy provides a summary of Council s funding policies in respect of both operating expenses and capital expenditures. Council reviews its funding

More information

DRAFT Revenue and Financing Policy 2015-2025

DRAFT Revenue and Financing Policy 2015-2025 DRAFT Revenue and Financing Policy 2015-2025 Table contents 1 Background 3 2 Guiding principles 4 2.1 Affordability 4 2.2 Paying for benefits received 4 2.3 Paying for costs imposed 4 2.4 Transparency

More information

2015-2025. LONG TERM FINANCIAL PLAN Page 1

2015-2025. LONG TERM FINANCIAL PLAN Page 1 2015-2025 LONG TERM FINANCIAL PLAN Page 1 1. Executive Summary... 4 2. Background... 5 2.1 Key Statistics... 5 2.2 City of Perth Strategic Priorities... 5 3. Integrated Planning and Reporting Framework...

More information

BRISBANE CITY COUNCIL FINANCIAL PLAN 2011/2012

BRISBANE CITY COUNCIL FINANCIAL PLAN 2011/2012 BRISBANE CITY COUNCIL FINANCIAL PLAN 2011/2012-1 - Purpose of the Financial Plan The financial plan is a component of Brisbane City Council s system of financial management. It helps ensure the financial

More information

Financial Management Strategy & Long Term Financial Plan 2014/2015 2023/2024

Financial Management Strategy & Long Term Financial Plan 2014/2015 2023/2024 Financial Management Strategy & Long Term Financial Plan 2014/2015 2023/2024 February 2014 Table of Contents Page 1.0 EXCUTIVE SUMMARY 1.1 Introduction 1.2 Financial Management Strategy 1.3 Long Term

More information

COMMUNITY FINANCIAL REPORT

COMMUNITY FINANCIAL REPORT COMMUNITY FINANCIAL REPORT Council s approach to financial planning guides the organisation toward operating in a manner that ensures financial sustainability in both the short, and the long term. IMAGE:

More information

City of Holdfast Bay. Long Term Financial Plan 2012/13 2031/32

City of Holdfast Bay. Long Term Financial Plan 2012/13 2031/32 City of Holdfast Bay Long Term Financial Plan 2012/13 2031/32 1 Framework The Local Government Act requires councils to have strategic management plans which must address: the sustainability of its financial

More information

Long Term Financial Planning

Long Term Financial Planning Long Term Financial Planning Framework and Guidelines Long Term Financial Planning Framework and Guidelines for Western Australian Local Governments p1. Contents Foreword 4 1. Introduction 7 2. Purpose

More information

OUR WORK IN DETAIL. Ngā mahinga whānui

OUR WORK IN DETAIL. Ngā mahinga whānui Ngā mahinga whānui Whakatāne District Council ANNUAL PLAN 2013/14 21 This chapter provides an overview of the activities we will undertake during the 2013/14 year. We currently have 48 internal and external

More information

LONG TERM FINANCIAL PLAN 2011/2012 2020/2021

LONG TERM FINANCIAL PLAN 2011/2012 2020/2021 LONG TERM FINANCIAL PLAN 2011/2012 2020/2021 INDEX TO CONTENTS 1. Long Term Financial Planning Defined 1.1 Purpose 1.2 Principles 1.3 CEO Statement on Financial Sustainability 2. Impacts upon the Current

More information

Accounting for Infrastructure Projects within Enterprise Zones (EZ) and Tax Increment Financing (TIF) Funded Programmes.

Accounting for Infrastructure Projects within Enterprise Zones (EZ) and Tax Increment Financing (TIF) Funded Programmes. Accounting for Infrastructure Projects within Enterprise Zones (EZ) and Tax Increment Financing (TIF) Funded Programmes. Background 1 A number of initiatives are under way that involve local authorities

More information

Information Paper 16. Long-term Financial Plan (A Model Format for Financial Information)

Information Paper 16. Long-term Financial Plan (A Model Format for Financial Information) Information Paper 16 Long-term Financial (A Model Format for Financial Information) February 2008 LGA Long-term Financial (A Model Format for Financial Information) Information Paper Introduction The LGA

More information

Warringah Council Policy Policy No. Number Financial Planning & Sustainability Policy

Warringah Council Policy Policy No. Number Financial Planning & Sustainability Policy Warringah Council Policy Policy No. Number 1 Purpose of Policy The purpose of this policy is to establish the strategic financial planning and sustainability framework to guide Council when developing

More information

A QUICK REFERENCE GUIDE FOR ELECTED OFFICIALS AND STAFF CASH FLOW MANAGEMENT

A QUICK REFERENCE GUIDE FOR ELECTED OFFICIALS AND STAFF CASH FLOW MANAGEMENT A QUICK REFERENCE GUIDE FOR ELECTED OFFICIALS AND STAFF CASH FLOW MANAGEMENT This booklet is a quick reference guide to help you to: understand the principles of good cash flow management nn understand

More information

DAREBIN CITY COUNCIL Strategic Resource Plan

DAREBIN CITY COUNCIL Strategic Resource Plan DAREBIN CITY COUNCIL Strategic Resource Plan 2013-2017 DAREBIN CITY COUNCIL Strategic Resource Plan 2013-17 Executive summary In its 2013-2017 Council Plan, the Darebin Council s vision is: Darebin, the

More information

AMENDMENT TO LONG TERM COUNCIL COMMUNITY PLAN

AMENDMENT TO LONG TERM COUNCIL COMMUNITY PLAN 2011 AMENDMENT TO LONG TERM COUNCIL COMMUNITY PLAN This document contains the 2011 amendment to the Revenue and Financing Policy of the 2009 Long Term Council Community Plan. This amendment was adopted

More information

Budget Introduction Proposed Budget

Budget Introduction Proposed Budget Budget Introduction Proposed Budget INTRO - 1 INTRO - 2 Summary of the Budget and Accounting Structure The City of Beverly Hills uses the same basis for budgeting as for accounting. Governmental fund financial

More information

Revenue and Financing Policy

Revenue and Financing Policy Current Revenue Policy Revenue and Financing Policy Group Activity Environmental Activity - Air Ambient Air Quality Monitor and report on strategy development and implementation. benefits from clean air.

More information

Registrar of Community Housing 5. Financial Viability

Registrar of Community Housing 5. Financial Viability 5. Financial Viability Version 2.0 WWW.RCH.NSW.GOV.AU The Registration Process 1 Published by The 2010 This work is copyright. It may be produced in whole or in part for study or training purposes subject

More information

ENGLAND EUROPEAN REGIONAL DEVELOPMENT FUND OPERATIONAL PROGRAMME GUIDANCE ON REVENUE GENERATING PROJECTS

ENGLAND EUROPEAN REGIONAL DEVELOPMENT FUND OPERATIONAL PROGRAMME GUIDANCE ON REVENUE GENERATING PROJECTS ENGLAND EUROPEAN REGIONAL DEVELOPMENT FUND OPERATIONAL PROGRAMME 2014-20 GUIDANCE ON REVENUE GENERATING PROJECTS September 2015 Guidance on Revenue Generating Projects Contents Background Purpose of the

More information

Rate Setting, Asset Management and Financial Sustainability. A guide for local governments June 2013

Rate Setting, Asset Management and Financial Sustainability. A guide for local governments June 2013 Rate Setting, Asset Management and Financial Sustainability A guide for local governments June 2013 1 Rate Setting, Asset Management and Financial Sustainability A guide for local governments June 2013

More information

Statement of Accounting Policies

Statement of Accounting Policies Statement of Accounting Policies Statement of Responsibility & Cautionary Note The Draft 2015/2025 Long Term Plan was authorised for issue by Council on 22 April 2015. The purpose of this Long Term Plan

More information

p20. Christchurch Long Term Council Community Plan 2009 2019 Financial policies

p20. Christchurch Long Term Council Community Plan 2009 2019 Financial policies p20. p21. Our Long Term Christchurch Ōtautahi The following pages contain details of the Council s propsed financial policies, including details of its proposed fees and charges. They are potentially of

More information

Pricing Policy Statement - Excluded Retail Services. Introduction. Description of Excluded Services. Excluded Retail Services Offered in 2014/15

Pricing Policy Statement - Excluded Retail Services. Introduction. Description of Excluded Services. Excluded Retail Services Offered in 2014/15 Pricing Policy Statement - Excluded Retail Services Introduction SA Water s Water and Sewerage Retail Services: 2013-14 to 2015-16 Revenue Determination (ESCOSA, 2013, Section 2.2) requires SA Water to

More information

Financial Management (Sustainability) Guideline 2013 Version 1.1

Financial Management (Sustainability) Guideline 2013 Version 1.1 Financial Management (Sustainability) Guideline 2013 Version 1.1 For the purposes of explaining the concept of sustainability and to provide guidance for calculating the relevant financial sustainability

More information

Page 1 of 24. To present the Asset Management Policy 2014 for Council adoption.

Page 1 of 24. To present the Asset Management Policy 2014 for Council adoption. Page 1 of 24 COMMUNITY AND SERVICES SPECIAL COMMITTEE REPORT 9 DECEMBER 2104 AGENDA ITEM 6.1 ASSET MANAGEMENT POLICY 2014 REVIEW Director: Manager: Ian Butterworth Director Infrastructure and Engineering

More information

Financial and Asset Management. Glossary of Terms and Abbreviations

Financial and Asset Management. Glossary of Terms and Abbreviations Financial and Asset Management Glossary of Terms and Abbreviations ABP see Annual Business Plan Accrual accounting: An accounting approach by which expenses, revenue, assets and liabilities are recognised

More information

Executive summary. The Council was successful in meeting its funding policies under the Revenue and Financing Policy.

Executive summary. The Council was successful in meeting its funding policies under the Revenue and Financing Policy. Executive summary This report reviews the Taranaki Regional Council's performance and achievement in relation to its Revenue and Financing Policy, Investment Policy and Liability Management Policy for

More information

Charities Accounting Standard Accounting Template Explanatory Notes

Charities Accounting Standard Accounting Template Explanatory Notes Charities Accounting Standard Accounting Template Explanatory Notes Introduction Purpose of Accounting Template The Accounting Template is designed to help smaller charities prepare and present financial

More information

EXPLANATORY NOTES. 1. Summary of accounting policies

EXPLANATORY NOTES. 1. Summary of accounting policies 1. Summary of accounting policies Reporting Entity Taranaki Regional Council is a regional local authority governed by the Local Government Act 2002. The Taranaki Regional Council group (TRC) consists

More information

THE RECOVERY OF CAPITAL GRANT

THE RECOVERY OF CAPITAL GRANT THE RECOVERY OF CAPITAL GRANT A consultation on proposals for a revised determination 2015 January 2015 Contents CONTEXT... 3 KEY PROPOSALS FOR CHANGE... 5 THE DETAIL ON AREAS FOR CONSIDERATION... 6 TIMETABLE...

More information

The Application of International Accounting Standards in the Financial Statements of Tearfund Partners

The Application of International Accounting Standards in the Financial Statements of Tearfund Partners The Application of International Accounting Standards in the Financial Statements of Tearfund Partners Context: International Accounting Standards (IAS) have been developed primarily to bring consistency

More information

Subject: Prudential Indicators 2016/17 to 2020/21

Subject: Prudential Indicators 2016/17 to 2020/21 CLACKMANNANSHIRE COUNCIL THIS PAPER RELATES TO ITEM 04 ON THE AGENDA Report to: Special Council Date: 23 February 2016 Subject: Prudential Indicators 2016/17 to 2020/21 Report by: Depute Chief Executive

More information

Strategic Plan. New Zealand Fire Service Commission to 2005 2010

Strategic Plan. New Zealand Fire Service Commission to 2005 2010 Strategic Plan New Zealand Fire Service Commission to 2005 2010 Table of contents Forward from the Chairperson...3 Summarises the purpose, content and logic behind the Commission s strategic direction.

More information

Local Government Operational Guidelines. Number 18 June 2013. Financial Ratios

Local Government Operational Guidelines. Number 18 June 2013. Financial Ratios Local Government Operational Guidelines Number 18 June 2013 Page 2 of 20 1. Introduction This guideline is intended to provide a clear explanation of each ratio required to be included in the annual financial

More information

PC13 Information Requirements Chapter 5 Financial Model and Financial Tables Issued 13 December 2011 - Version 01

PC13 Information Requirements Chapter 5 Financial Model and Financial Tables Issued 13 December 2011 - Version 01 PC13 Information Requirements Chapter 5 Financial Model and Financial Tables Issued 13 December 2011 - Version 01 Contents Chapter 5 - Financial Model and Financial Tables... 3 5.1. Table 5.1 Charge caps

More information

Table of Contents. WATER AND WASTEWATER MODEL AND SITUATIONAL ANALYSIS 6 Model Development 6 10-Year Water/WW - Challenges, Risks and Opportunities 7

Table of Contents. WATER AND WASTEWATER MODEL AND SITUATIONAL ANALYSIS 6 Model Development 6 10-Year Water/WW - Challenges, Risks and Opportunities 7 Table of Contents LONG-RANGE FINANCIAL PLAN INTRODUCTION 1 Water and Wastewater Financial Plan 2 What is a Long Range Financial Plan 3 Importance of a Long Range Financial Plan 4 General Approach to Preparing

More information

Investment policy Adopted 28 May 2014

Investment policy Adopted 28 May 2014 Adopted 28 May 2014 our our community future Background The Local Government Act 2002 requires Council to adopt a policy for the management of investments including; The mix of investments. The acquisition

More information

Brief Report on Closing of Accounts (connection) for the Term Ended March 31, 2007

Brief Report on Closing of Accounts (connection) for the Term Ended March 31, 2007 MARUHAN Co., Ltd. Brief Report on Closing of (connection) for the Term Ended March 31, 2007 (Amounts less than 1 million yen omitted) 1.Business Results for the term ended on March, 2007 (From April 1,

More information

Real Estate Investment Trusts

Real Estate Investment Trusts Real Estate Investment Trusts What are REITs? 1. REITs or Real Estate Investment Trusts to give them their full title are now common to many economies with a developed property market. Generally they are

More information

Alternative infrastructure funding and financing

Alternative infrastructure funding and financing Alternative infrastructure funding and financing Research Paper (commissioned by the Queensland Government) 21 March 2016 Department Of Infrastructure, Local Government and Planning This page intentionally

More information

What is Cost of Service Regulation? Basic Issues in Rate Proceedings. Basic COS Component: Operating Expenses

What is Cost of Service Regulation? Basic Issues in Rate Proceedings. Basic COS Component: Operating Expenses Tariff Development I: The Basic Ratemaking Process The Ratemaking Formula and Basic Components Darryl Tietjen Public Utility Commission of Texas Briefing for the NARUC/INE Partnership 1 2 What is Cost

More information

Council Policy: Asset Management

Council Policy: Asset Management Classification: Council Policy: Asset Management Council Policy First Issued: 7 November 2006 Dates of Review: 4 March 2014 Version Number: 2 DW Doc set ID: 459426 Next Review Due: 4 March 2019 Applicable

More information

DEBT MANAGEMENT POLICY POLICY, PROCESSES AND PROCEDURES

DEBT MANAGEMENT POLICY POLICY, PROCESSES AND PROCEDURES DEBT MANAGEMENT POLICY POLICY, PROCESSES AND PROCEDURES 1 RECOMMENDED THAT the Debt Management Policy and the contents thereof be tabled for approval at the Mayoral Committee. Version Version 2 Date March

More information

Review of PIRSA s Cost Recovery Policy and practices, including their application to the Fisheries and Aquaculture Industries Primary Industries and

Review of PIRSA s Cost Recovery Policy and practices, including their application to the Fisheries and Aquaculture Industries Primary Industries and Review of PIRSA s Cost Recovery Policy and practices, including their application to the Fisheries and Aquaculture Industries Primary Industries and Regions SA 29 July 2015 Contents Executive Summary...

More information

HORNSBY SHIRE COUNCIL LONG TERM FINANCIAL PLAN 2014/15-2023/24 HORNSBY SHIRE COUNCIL LONG TERM FINANCIAL PLAN 2014/15-2023/24 SECTION INTRODUCTION

HORNSBY SHIRE COUNCIL LONG TERM FINANCIAL PLAN 2014/15-2023/24 HORNSBY SHIRE COUNCIL LONG TERM FINANCIAL PLAN 2014/15-2023/24 SECTION INTRODUCTION HORNSBY SHIRE COUNCIL LONG TERM FINANCIAL PLAN 2014/15-2023/24 HORNSBY SHIRE COUNCIL LONG TERM FINANCIAL PLAN 2014/15-2023/24 SECTION INTRODUCTION P1 P2 CONTENTS Executive Summary Financial Results Future

More information

Long-Term Asset Management Plan 2011-2021

Long-Term Asset Management Plan 2011-2021 Long-Term Asset Management Plan 2011-2021 Contents Introduction...3 A shared vision...4 Strategic planning to achieve our goals...4 Towards 2031...5 A long-term vision, communicated by our community...5

More information

annual plan 2014 / 2015 key projects Key Projects

annual plan 2014 / 2015 key projects Key Projects 19 annual plan 2014 / 2015 Key Projects key projects The Long Term Plan detailed nine Key Projects to assist in achieving Council s vision of Creating an exciting, innovative, safe, caring and friendly

More information

FINANCIAL REPORT AND ACCOUNTS 2012

FINANCIAL REPORT AND ACCOUNTS 2012 Overall Position for 2012 Income and Expenditure SUMMARY OF FINANCIAL REPORT AND ACCOUNTS 2012 The States ended the year in a good position, with higher income than budgeted, and lower expenditure than

More information

EAST AYRSHIRE COUNCIL CABINET 21 OCTOBER 2009 TREASURY MANAGEMENT ANNUAL REPORT FOR 2008/2009 AND UPDATE ON 2009/10 STRATEGY

EAST AYRSHIRE COUNCIL CABINET 21 OCTOBER 2009 TREASURY MANAGEMENT ANNUAL REPORT FOR 2008/2009 AND UPDATE ON 2009/10 STRATEGY EAST AYRSHIRE COUNCIL CABINET 21 OCTOBER 2009 TREASURY MANAGEMENT ANNUAL REPORT FOR 2008/2009 AND UPDATE ON 2009/10 STRATEGY Report by Executive Head of Finance and Asset Management 1 PURPOSE OF REPORT

More information

2015 2016 - Council Tax Facts and Figures on Finance

2015 2016 - Council Tax Facts and Figures on Finance 2015 2016 - Council Tax Facts and Figures on Finance 1 Contents R Foreword 3 Facts and figures on finance 1 Your Council Tax helps pay for the following 4 2 Our spending plans 5 3 How your Council services

More information

NOTICE: For details of the project history please look under the Work Plan section of this website.

NOTICE: For details of the project history please look under the Work Plan section of this website. NOTICE: This Exposure Draft is available to show the historic evolution of the project. It does not include changes made by the Board following the consultation process and therefore should not be relied

More information

Financial Statement Guide. A Guide to Local Government Financial Statements

Financial Statement Guide. A Guide to Local Government Financial Statements Financial Statement Guide A Guide to Local Government Financial Statements January, 2012 Ministry of Community, Sport and 1 Financial Statement Guide Table of Contents Introduction Legislative Requirements

More information

Part B3: Business case funding and financing options

Part B3: Business case funding and financing options Overview Part A: Strategic assessment Part B1: Business case developing the business case Part B2: Business case procurement options Part B3: Business case funding and financing options Part C: Project

More information

SOL PLAATJE LOCAL MUNICIPALITY

SOL PLAATJE LOCAL MUNICIPALITY SOL PLAATJE LOCAL MUNICIPALITY LONG TERM FINANCIAL PLANNING POLICY 1 P a g e TABLE OF CONTENTS TABLE OF CONTENTS... A 1. INTRODUCTION...1 2. PURPOSE OF THIS DOCUMENT...1 3. DEFINITIONS... 2 4. OBJECTIVES...

More information

PUBLIC FINANCE MANAGEMENT ACT NO. 1 OF 1999

PUBLIC FINANCE MANAGEMENT ACT NO. 1 OF 1999 PUBLIC FINANCE MANAGEMENT ACT NO. 1 OF 1999 as amended by Public Finance Management Amendment Act, No. 29 of 1999 ACT To regulate financial management in the national government and provincial governments;

More information

[4.8.6] Deductibility of Loan Interest (section 97(2)(e))

[4.8.6] Deductibility of Loan Interest (section 97(2)(e)) [4.8.6] Deductibility of Loan Interest (section 97(2)(e)) 1. Introduction The deductions which can be made in computing taxable Case V rental income are set out in Section 97(2) TCA 1997. Paragraph (e)

More information